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1. - I do not believe thats possible during capture from Premiere unless you capture using other capture software or convert it afterwards using Media Encoder.
2. - Not possible during capture from Premiere unless you insert an external composite window dub box into the analog capture stream.
I would recommend against 1. Video editing requires space. Hard drives aren't that expensive, so get them if you need them. Trying to save space by compressing video will cause unnecessary grief.
Item 2 can be done using other software, such as WinDV.
Haig - following on from what Nelson said - ...and in any case it's a very bad idea. Mpeg is an output format, not an editing format (insert long discussion here of the many reasons why it's a bad idea). The cost of hard disks and tape is cheap - it's only data, when it comes down to it. Why skimp?
The meta data does keep the time stamp (along with other information) as long as your camera has been set with the correct time and date, it keeps both bits of information. Avoid the temptation to burn the time and date into the footage itself. Another bad idea!
capturing to mpeg as apposed to avi is the worst thing you can do before editing. information is lost. the idea is to start out with the best and least compressed video source before editing.
As far as a date stamp goes... Just set the name of the capture files in the capture panel of premiere to include the date.
i.e.: Clip Name: clip 12-11-07 or clip 12.11.07
the file names will then be created as either "clip 12-11-07 001.avi" or "clip 12.11.07 001.avi".
Well Thanks guys
Thanks for all the help